Atlas Pipeline Partners, L.P. Announces Additional Mid-Continent Hedges Through December 2009.

PHILADELPHIA -- Atlas Pipeline Partners, L.P. (NYSE:APL) (the "Partnership") reported today that it has entered into additional hedges for the calendar year 2009 for natural gas liquids ("NGLs") and condensate that it owns and generates in its Mid-Continent processing operation. In executing these instruments, the Partnership has hedged 100 barrels per day of condensate at an average fixed price of $62.70 per barrel and 23,800 gallons per day of NGLs at an average fixed price of $0.75 per gallon for calendar year 2009. Based upon current volumes, the completion of the new hedges result in an overall hedge position of approximately 27% of the Partnership's 2009 calendar year condensate production and approximately 12% of the Partnership's 2009 calendar year NGL production. A summary of the Partnership's current overall Mid-Continent NGL and condensate hedge position is as follows:

Years Ended December 31,
                                       -------------------------------
                                        2006    2007    2008    2009
                                       ------- ------- ------- -------

NGL per gallon
  Hedged fixed price                   $ 0.68  $ 0.72  $ 0.70  $ 0.75
  Approximate % of current production      54%     49%     45%     12%

Condensate per barrel
  Hedged fixed price                   $51.30  $56.07  $59.27  $62.70
  Approximate % of current production      62%     60%     46%     27%

The Partnership owns and processes natural gas in the Mid-Continent region where its hedging activity is intended to enhance the stability of its revenue stream from contracts with various gas producers.

Atlas Pipeline Partners, L.P. is active in the transmission, gathering and processing segments of the midstream natural gas industry. In the Mid-Continent region of Oklahoma, Arkansas, northern Texas and the Texas panhandle, the Partnership owns and operates approximately 2,565 miles of intrastate gas gathering pipeline and a 565-mile interstate natural gas pipeline. The Partnership also operates two gas processing plants and a treating facility in Velma, Elk City and Prentiss, Oklahoma where natural gas liquids and impurities are removed. In Appalachia, it owns and operates approximately 1,500 miles of natural gas gathering pipelines in western Pennsylvania, western New York and eastern Ohio. For more information, visit our website at www.atlaspipelinepartners.com or contact [e-mail].

Atlas America, Inc. (Nasdaq:ATLS), the parent company of Atlas Pipeline Partners, L.P.'s general partner and owner of 1,641,026 units of limited partner interest of APL, is an energy company engaged primarily in the development and production of natural gas in the Appalachian Basin for its own account and for its investors through the offering of tax advantaged investment programs. For more information, please visit our website at www.atlasamerica.com, or contact investor relations at [e-mail].

Statements made in this release include forward-looking statements, which involve substantial risks and uncertainties. The Partnership's actual results, performance or achievements could differ materially from those expressed or implied in this release as a result of certain factors, including competition within the energy industry, climactic conditions and the price of gas in the Appalachian and Mid-Continent areas, actual versus projected volumetric production from wells connected to the Partnership's gas-gathering pipeline system, and the cost of supplies and services in the energy industry.